Essay to understand the challenges linked to the investment climate in Morocco: case of three industrial sectors

Abstract

This work is an attempt to understand the different challenges linked to the investment climate in Morocco where growth objectives are mainly linked to investment capacities. Through a Top-Bottom analysis, we will link the results of a growth diagnosis to the results of the testimonies of 100 managers of industrial companies operating in the three driving sectors of Moroccan industry, namely agri-food, textiles and chemistry and parachemistry.

The high-low analysis or the HRV method (Hausmann, Rodrick and Valesco, 2006) which links macro-economic and micro-economic results, allows on the one hand to show the place of the investment climate in the explanation of economic growth in Morocco through a growth diagnosis, and on the other hand determine the impact of the various obstacles linked to the investment climate (access to land, weak infrastructure, administrative problems, corruption, etc.) on the activity companies in these three sectors. The main objective of the results of this paper is to confirm the place that the investment climate plays in economic growth in Morocco, and to determine the elements of the investment climate which most influence economic activity in Morocco, to specify the measures and actions necessary to improve these elements.

Keywords: Investment climate, Institution, High-low analysis, Agri-food, Textile, Chemistry and parachemistry.

JEL : D25, E22

Paper type : Empirical Research